Flotation

AstraZeneca, Merck & Co and Alexion all scored exits as mRNA therapy developer Moderna floated in the largest biotech IPO of all time.

Tencent, Ping An and Bertelsmann-backed e-commerce platform Mogu has floated on the New York Stock Exchange in a $66.5m initial public offering.

AstraZeneca, Merck and Alexion-backed Moderna Therapeutics has set its pricing range at $22 to $24 and would raise more than $521m if it floats at the top end.

The Bertelsmann automotive e-commerce platform has priced its shares at the lower end of its range to raise $20m instead of its targeted $150m.

Alibaba-backed Babytree priced its shares at the foot of its range and will raise $217m at a valuation of $1.5bn, down from $2.2bn earlier this year.

The travel booking platform, backed by Ctrip, Dalian Wanda and Tencent, has priced shares at the bottom of its range and raised $180m in its initial public offering.

The Kaiser Permanente-backed medical device producer upscaled its initial public offering to $64.4m after the underwriters took up the over-allotment option.

The Hakim Unique, Shanda Interactive and Dong Yi Ri Sheng-backed lending platform raised $45m, floating in the middle of its range.